US April existing home sales 4.00m vs 4.10m expected

• Prior was 4.02m
• Sales change -0.5% vs -5.9% prior
• Inventory at 4.4 months vs 4.0 prior
• Median prices at $414K, up 1.8% y/y

Sales bottomed in the 3.90m range in 2023 and 2024. With borrowing rates now well-above 7%, I suspect we’re headed back there.

This article was written by Adam Button at www.forexlive.com.